Petrol Price In India Today Fell Even As Global Crude Sees Uptick

Petrol price in India today: The state-owned Oil Companies decided to trim down petrol prices by 3 paisa each per litre, despite global crude oil prices rising on Monday on the back of a drop in the number of U.S. rigs drilling to raise output. The prices of fuel products including petrol in India, is derived from international crude oil basket, plus states value added tax (VAT) and government’s excise duty. Thus tracking the global crude oil performance comes as an important factor for calculating final retail prices of petrol in various major state capitals in India. Read More…